Guideline Value for GANGAI NAGAR THAMIRABARANI STREET

Gangai Nagar Thamirabarani Street guideline value

The current guideline value of Gangai Nagar Thamirabarani Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - III.

How the guideline value of Gangai Nagar Thamirabarani Street has changed

The guideline value for Gangai Nagar Thamirabarani Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was then reduced to Rs 1,541 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,300 per sq.ft, and the latest 2024 revision has raised it to Rs 2,500 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%, but it increased significantly by 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a modest increase of 9%. The most recent change from 2023 to 2024 indicates a rise of 9% in the guideline value.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, which is equal to the guideline value of Gangai Nagar Thamirabarani Street.

• Gangai Nagar Sundari Bai Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Thilagavathi Corss Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Srinivasan Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Thilagavathi Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Sivapuri Street: Rs 2,500 per sq.ft (2024)
• Gangai Nagar Thirunavukarasu Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Gangai Nagar Thamirabarani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, leading to a total of Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gangai Nagar Thamirabarani Street?

The Villivakkam Sub Registrar Office covers Gangai Nagar Thamirabarani Street. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Korattur

The guideline value is a crucial factor in the registration process of property transactions in Korattur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the authorities. This value is essential for maintaining transparency in property transactions and ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Gangai Nagar Thamirabarani Street?

The current guideline value of Gangai Nagar Thamirabarani Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024, reflecting a 9% increase. It was previously at Rs 1,541 per sq.ft in 2017 and Rs 2,300 per sq.ft in 2012.

What is the land classification for Gangai Nagar Thamirabarani Street?

The land classification for Gangai Nagar Thamirabarani Street is Residential Class II Type - III, indicating its use for residential purposes.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Gangai Nagar Thamirabarani Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 1,75,000.